Cameron, CNPC establish joint venture

HOUSTON – Cameron (NYSE: CAM) has announced an agreement with China National Petroleum Corp. (CNPC) to establish a joint venture for the manufacture of pipeline ball valves.

Under the terms of the agreement, Cameron will license its technology to the joint venture and establish a full-scale manufacturing operation in Tianjin, China, with CNPC Bohai Equipment Manufacturing Co. Ltd. This joint venture will be the exclusive pipeline valve manufacturing entity within CNPC.